| | | Wow, you just admitted it needs fixing...legacy has no value...the name is meaningless.
This was good news for tax cuts:
The spectacular flameout of Republican efforts to kill the Affordable Care Act is a humbling moment for Washington’s ruling party. But it doesn’t signal GOP feebleness on every issue.
In fact, there may now be a greater likelihood Republicans, backed by President Trump, pass tax cuts by the end of 2017.
Trump, with typical moxie, has promised “massive” tax cuts. And unlike healthcare—an issue Republicans still don’t have a coherent plan on—low taxes are a staple of the Republican agenda. And it just got more important for Republicans to prove they can accomplish something before the 2018 midterm elections.
“They need to prove to their core constituency there’s a reason they elected Republicans,” says Tom Block, Washington policy strategist for investing firm Fundstrat. “Tax cuts are very much alive.”
On July 27, the White House published a statement on behalf of leaders in the House, Senate, White House and Treasury Dept., outlining tax-reform principles they all agree on. Details were scarce, but this is a running start compared with the GOP’s health reform breakdown. And there’s one important bit of momentum: Republicans have agreed to drop the border-adjustability tax that House Speaker Paul Ryan supports, removing what up till now has been the biggest source of friction between the House and Senate on tax cuts. |
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